Living out of his car, Quebec man chronicles experience as he pays off debt

A Quebec man swimming in debt has been living out of his car for the last month, chronicling the experience on TikTok.

"I was about to leave my apartment late in June, and I wondered, 'Do I really need to move to another apartment right now?'" said Marc-Andre Gagnon.

It's a tight space, with his bed, clothes, personal items, hygiene products, computer, gym gear and car equipment all packed inside the vehicle.

He said it was a drastic decision to address his debts.

"We're looking at $97,000, so like $73,000 from student loans and the rest is credit cards and income tax," he explained.

The 33-year-old earns money doing deliveries for companies like Uber Eats.

Gagnon said cutting out rent and budgeting more is paying off.

"Since July 1, I've put in like $3,000 on savings for emergency funds and for the loans I have," he said.

Gagnon's been sharing his experience on social media, posting videos on TikTok, where he shares his routine and tips.

@lemarcandregagnon Le concept de Loud Budgeting | Comment gérer la pression sociale lorsque vous essayez d'économiser de l'argent? #loudbudgeting #direnon #dettes #livraison #livreurubereats #coursieruber #tiktoklaval #tiktokmontreal #tiktokquebec ♬ Epic Motivation - Kidmada

In exchange, he said he receives an outpouring of support.

Gagnon's story is far from an isolated case, said one investment expert.

"Consumer debt in Canada per capita is actually higher than it is in the States," said wealth management expert Lorne Steinberg,

Steinberg said it's in part due to rising costs for necessities like housing and food, even with higher wages.

"They have not yet been rising fast enough to catch up with the cumulative amount of inflation over the last several years, which is just adding to everybody's stress," he said.

Gagnon hasn't been spared.

"It's played a role in my relationships, in my career and my choices, so it's very overwhelming right now," he said.

Gagnon quit his office job to focus on deliveries, where he works up to 80 hours a week.

There are other options, said finance expert Brian Doyle.

"People many times are not aware of what's available to them to deal with their debt," he said.

Gagnon had planned on living in his car for 60 days but said that might change.

"If it's good for me, let's continue it, maybe until October," he said.
 

@lemarcandregagnon 30 juillet 2024 : 30e jour dans mon véhicule. Bonne journée all 💛 #livraison #ubereats #coursieruber #livreurubereats #tiktoklaval #tiktokmontreal #tiktokquebec #livraisonderepas #kiario #carliving ♬ Tear Up This Town - Orchestral Version / From "A Monster Calls" Original Motion Picture Soundtrack - Keane